Will mortgage broker's factor in portfolio size?
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Will mortgage broker's factor in portfolio size?
I'm considering early semi-retirement but also a more expensive house. I would want to take a 30 year mortgage because of tax implications and low interest rates. I've read that the rule of thumb is with good credit one should get approved for up to 36% of gross income to be put towards monthly payments. However, this could be cutting it close with my reduced part-time income. Do brokers dig deeper into one's finances to determine how much to approve?